Wintermute introduced the creation of a sensible contract for a brand new US presidential election prediction market referred to as OutcomeMarket on Sept. 17.
The market, set to launch subsequent week, will function on a number of chains, together with Ethereum (ETH), Base, and Arbitrum (ARB). Moreover, it is going to debut two new tokens referred to as TRUMP and HARRIS.
OutcomeMarket goals to extend liquidity, effectivity, and accessibility by eradicating intermediaries and eliminating minting or transaction charges, permitting seamless participation throughout chains and a number of buying and selling venues
OutcomeMarket
In contrast to present prediction markets, that are usually confined to a single chain, Wintermute’s new mannequin permits customers to have interaction instantly from their native blockchain ecosystems, eliminating the necessity for advanced asset bridging.
The platform will make the most of Chaos Labs’ Edge Proofs Oracle to make sure exact knowledge supply throughout a number of blockchain ecosystems. The oracle will assist mitigate the inherent dangers in prediction markets by delivering dependable, tamper-proof knowledge feeds, a vital part for sustaining belief and market integrity.
Chaos Labs CEO Omer Goldberg:
“What units our market and knowledge integrity engine aside is the distinctive integration of superior AI and LLMs with danger fashions. This mixture delivers extremely exact, tamper-proof knowledge feeds whereas embedding real-time danger evaluation into the protocol.”
In the meantime, the 2 new tokens, TRUMP and HARRIS, shall be tradable on DeFi functions and on a number of centralized exchanges and DEXs.
Bebop, WOO, and Backpack will present the tokens’ preliminary buying and selling venues, with extra listings anticipated post-launch. This method differentiates Wintermute’s market by enabling broader utility for the tokens, a function absent in lots of different prediction markets.
Wintermute CEO Evgeny Gaevoy stated:
“There was important curiosity from each centralized and decentralized buying and selling venues to checklist such prediction market contracts. Nevertheless, nobody had developed them in a permissionless method and with out imposing minting or transaction charges.”
Rise of Prediction Markets
Wintermute’s launch comes as prediction markets have seen a resurgence in reputation, pushed partly by platforms like Polymarket.
The decentralized prediction market has seen unbelievable progress in latest months amid the 2024 US presidential race between former President Donald Trump and Vice President Kamala Harris, with bets on numerous outcomes lately surpassing $1 billion.
The rise of Polymarket highlights the broader development towards decentralized prediction markets, the place blockchain expertise ensures transparency, safety, and equity. Wintermute’s new multi-chain prediction market builds on this momentum, providing a extra scalable and inclusive resolution for customers throughout a number of blockchain ecosystems.